tv Mornings With Maria Bartiromo FOX Business March 18, 2019 6:00am-9:00am EDT
loss on the dow futures, keeping our eyes on the shares of boeing, a little bit of a gain on s&p and nasdaq futures, coming off of a winning week for the markets. this as general motors is feeling heat from president trump over the closure of its lordstown plant in ohio. the commander in chief tweeting this over the weekend. just spoke to mary barra, ceo of general motors, about the lordstown, ohio plant. i am not happy it is closed when everything else in our country is booming. i asked her to sell it or do something quickly. she blamed the uaw union. i don't care. i just want it open. general motors responding with, quote, we remain open to talking with all the affected stakeholders but our main focus remains on our employees and offering them jobs in our plants where we have growth opportunities. here now, wall street journal tech and auto reporter tim higgins. good to see you bright and early
this morning. the president took aim at the uaw chief, the union chief in that part of ohio. what do you make of what's happening with that plant and the president weighing in? >> on one hand, he needs torques right. this was a campaign issue, got promising jobs there and telling people to keep their houses because they were going to be safe. on the other hand, it's a savvy move to poke at the uaw, especially the local leadership. those local rank and file workers, many of them support trump and so here's a base that he needs to support whereas the leadership of the uaw has traditionally supported democrats, they have a political arm, very active in presidental campaigns, whether through money or organizing. here's an opportunity to put a wedge there potentially. dagen: that raises the issue, is it just political for him to do this? anybody who believes in, well, free markets, kind of gets the schiffershivers when the presids tweeting about the closure of one plant. is it just political or are
there any indications that the government is going to take a hand in doing something about this lordstown plant? >> when it comes to general motors lordstown plant, it has long been political. the cruz became kind of a symbol of the democratic administration's efforts to save general motors, with bankruptcy reorganization and it became a political hot button through the presidential campaigns that followed. lordstown has long been a place where politics and business have swirled together. dagen: i mentio mentioned davi, he did comment on fox news yesterday about the role of union salaries in the plant's closure. listen to this. >> general motors has plants all over the country, they're uaw negotiated facilities. you make $30 an hour, whether i'm in ohio, tennessee, alabama.
>> there's a reason, though, that the major foreign companies don't like dealing with the unions and go to states where they don't have to. >> well, they like to exploit workers. workers want a seat at the table. we don't want handouts, we want a fair day's work for a fair day's pay. dagen: why didn't the union workers in that region at that plant, have a seat at the table so-to-speak? what was in the contract with the uaw by general motors that would let them basically shut down the entire plant? >> technically it's not closed, i guess. what gm is doing is setting this up to be a negotiating point in the contract this summer. we're heading into a big round of contract talks between gm and the uaw, also ford and chrysler. what's going on right now is going to put intense pressure on those talks, higher than nor l mall, -- normal, because this is becoming a politicallish politi. this isn't just about the economics of the contracts but it's something beyond that,
becomes really kind of a discussion in this country about jobs in america. dagen: tim, talk about the need for general motors to close this plant, however, that general motors -- please correct me if i'm wrong -- has more excess capacity if you will than some of the other automakers in the united states. i'm thinking about ford and even chrysler jeep, that this was kind of a necessity. >> well, that's the argument gm is making. we've seen remarkable shift in consumer taste in the u.s. auto market here, away from kind of a split between cars and suvs and trucks to really favoring suvs and trucks, moving away from small cars. lordstown was a factory that was making small cars that cons hers just were not -- consumers just were not interested in buying. one of the problems gm has, it's got a lot of excess capacity for small cars and it's looking for ways to get rid of that. dagen: anybody who remembers the auto bailout, it was a $50 billion bailout of general motors by the federal
government, quite frankly wants gm to right-size and to have the right amount of capacity for the automobiles that it sells, right, tim? >> well, that's one of the ironic things here is that the old gm leadership was really criticized heavily for not making the tough decisions to close plants or not being able to make those tough decisions to close plants years before they needed to. here you've got mary barra really being proactive in a way that we didn't see from previous gm leadership. dagen: tim, what's the next -- i'm going to put you on the spot. what should we watch for as this plays out between gm, the local uaw, the overall contract negotiations, even the president, what are the next steps, do you think? >> the thing that caught my eye recently was the uaw had its big leadership meeting in detroit and they increased the strike pay. so we're heading into talks this summer. the union really putting itself in a position to really fight at the table because remember, they
have some pressures as well because of some recent scandals that the local rank and file are a little dubious of, if they're getting the best deal. they're going to be under a lot of pressure not to just give whatever gm wants. dagen: tim, great to see you as always. terrific insight, tim higgins from the wall street journal. thank you for getting up so early. tim's in san francisco, by the way. take care. we'll see you soon. >> thank you. dagen: boeing's major crisis, the faa being probed over the approval of the 737 max planes, this comes as reports of the ethiopian airlines black boxes show clear similarities with the lion air crash back in october. lauren simonetti has more. good morning, lauren. lauren: it's pretty chilling when you look at the similarities. first, let's get to this. federal prosecutors are scrutinizing the development of the boeing 737 max planes. a grand jury in washington, d.c. issued a subpoena to at least one person involved in the 737 max development, seeking related
documents. that subpoena was sent just a day after the deadly ethiopian airlines crash about a week ago. the journal reports that the transportation department is looking into the faa's approval of the boeing 737 max planes and as a contact on that subpoena, the person listed was a doj prosecutor in the criminal division. this is what boeing's ceo had to say yesterday afternoon as they were discussing this ongoing investigation. quote, as part of our standard practice following any accident, we examine our aircraft design and operation and when appropriate institute product updates to further improve safety. ethiopian's transport minister says officials were able to extract almost all of the data inside the black box. he says preliminary data show, quote, clear similarities with indonesia's lion air crash, that one was back in october. but the similarities were this. there was a crash shortly after
takeoff, dagen, and erratic altitude. both pilots tried to return back and the new york times is reporting that the automatic stabilizers played a role here. they were tilted upwards. and the 737 max, because it was designed to be a workhorse, it had a really big engine. it also had the engines further forward on the wings so they installed what's called the mcas, the maneuvering characteristics augmentation system, meant to help push it down and that's where some of the problems were. dagen: i think there's going to be greater scrutiny on how the department of transportation has been managed or handled, the top job at the faa we talked about this has been open for 14 months. the fines against u.s. major airlines have dropped 88% in the last two years. so i think that everybody is going to get scrutiny, government and boeing. thanks, lauren. new zealand debating gun control in the quake of friday's terror
attacks. cheryl casone has that and more stories this morning. cheryl: the debate started pretty quickly there. new zealand's prime minister is promising to reform the country's gun laws after at least one gunman attacked worshipers in two mosques, killing 50, wounding 42 others. she says the government will announce reforms in the next 10 days. so again, they're moving fast there. meanwhile, facebook has removed or blocked 1.5 million videos of that gunman's rampage on those two mosques. facebook says about 300,000 videos were removed within the first 24 hours of the attack, more than 1.2 million were blocked at upload. again, he live streamed the a attack on facebook. now to news here at home. jp morgan chase announcing a $350 million global initiative to prepare the future for workers to meet the groaning demand for -- growing demand for
skilled workers. it will provide support for community college and other nontraditional pathway programs. it will develop training programs to prepare its workforce for changes that are coming in technology and in business overall. and then there is big news on lyft, they're seeking a valuation between $21 billion and $23 billion for their upcoming ipo. they have launched the invest erodorsh's road show. they will meet with investors before they price the ipo. they plan to list with nasdaq attend of the month likely. the company plans to price shares between 62 and $48. uber is seeking a valuation as high as $120 billion at its ipo. the question is going to be, who would you rather invest in, lyft or uber? you're going to have choices this year.
dagen: thank, cheryl. coming up, extreme weather in the midwest, thousands flee the flooding triggered by a bomb cyclone. more rain is on the way. plus amazon in virginia, state lawmakers approve multimillion dollar incentives for the shopping giant's second headquarters, despite widespread protests in the state. ♪ i feel so close to you right now. ♪ ♪ (butcher) we both know you're not just looking for pork chops. you're searching for something more... ...red-blooded. right this way. you thirst for adrenaline, you hunger for raw power. well, you've come to the right place.
judge andrew napolitano will be here to talk about boeing and the scrutiny of the development of the 737 max. again, broad subpoena issued by a grand jury in washington, d.c. moving on to amazon and the power, protests in virginia over the weekend as the county board unanimously approved $23 million in incentives for amazon's hq-2. supporters say amazon's plan to bring a massive facility to crystal city will lead to thousands of jobs. owe poopponents say the giant dt need or deserve subsidies. joining us now lee carter, pwc president, mitch rochell and third seven advisers market strategist, michael block. mitch, i'm going to go to you first. do the board members see what happened in new york city, those jobs going away and now they want to make sure that amazon
still comes and stays? >> no question about it. it's obviously a stimulus to the economy and that economy is so heavily dependent upon the government and government appropriations, wants to have a third party employer in there. they're not letting this one slip away. dagen: i love how people are ie at the county incentives to bring amazon there when, again, the whole complex, like work complex in d.c. is about the government. >> it's crazy. there's a certain level of naive te. it sounds good to be anti-big business and inself. hillaryincentives, but thecommue from the jobs. union people are really, really against this and passionately so. so i think it's beholden on amazon and others to get people comfortable with these kind of
incentives as well. >> crystal city had been a ghost town for a while. that was built in the '80s and a lot of the companies that were there moved out, they tried to go after tech start-ups, they weren't attracting them. that area really needs something like this. >> if you want to attract tech start-ups, put a giant company in there which will create a mini ecosystem. we could have had that in queens but unknotte unfortunately we d. maybe there's a good model for it could work and inspire growth. for anyone opposing this, my question is what do you have in its place? what are you doing to promote growth and make life better for people, other than saying we defeated big business. what will this do? dagen: is this something that politicians will say they won't let the 20 something twits drive
business decisions that will drive the economy. >> they will have to get on board with these kinds of things. we have to see what that means when it comes to 2020 elections. because those candidates who are wildly anti-big business, who are really against all these kinds of incentives, al ala pee and others, they're really popular. bernie really resonates. those kinds of messages -- i don't know if his base is going to be drawn out there and they're going to vote, but right now he's got a solid following and anybody who dismisses him or aoc or these others who have these kinds of ideas is going to do so at their own peril because it resonates. dagen: i don't dismiss the individual. i do dismiss when alexandria ocasio-cortez repeatedly says things that are patently not true, the 80 hour workweek in this country, it's not anywhere near 80 hours. she doesn't understand how the unemployment rate is calculated,
on and on and on again. >> bernie, question b he can be. the last time around when you did the numbers, you're looking at $10 billion of deficit. it's popular to talk about how deficits don't matter and perhaps they don't but how will he explain the numbers. what will we do with that and where are we going? >> his base does not care. when wirwe're trying to fight te of will i would say right now. you can't take it down on facts. the same way people couldn't take trump down on facts. it doesn't work. have you to appeal to people's emotions. if you want to fight the bernies and aocs, you have to go after the emotions, make people feel better about the policies you're doing. people are responding because they're afraid, they don't feel like they have opportunities. a lot of young people are saddled with debt. they are not feeling optimistic. it resonates with them and the
way you reach them is by giving them -- >> i'm listening to you. i can see how bernie is going to go down here. dagen: where are the jobs going to come from? bernie might hate big business but who would you rather work for, the federal -- again, like you starve private business, who is going to fund the government? >> it's easer to point fingers at who to blame than come one a solution. dagen: i guess. when debating the facts is irrelevant, that's a bad day in the country. coming up, we'll have details on a global payments giant. and securing victory despite a setback, kyle busch marks a personal milestone. more next in sports. stay with us. ♪ you're a wonderful one. ♪
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dagen: turning to wall street and your money. futures are showing a lower open for the dow and s&p 500. nasdaq up 100, up ever so slightly. the federal reserve this week, that's what we're watching. joining me now is ltm wealth portfolio manager, market strategist, michael lee. what's surprises should we be paying attention to this week? will there be any in terms of the fed decision. >> no, i don't think there's any surprises. dagen: we're not talking u.s.-china trade negotiations, we're talking federal reserve. so continue. >> i think the fed is on hold specifically because the u.s.-china trade negotiations and the trade negotiations with china, it's important to remember we're not negotiating the price of a used car. this is a matter of national
security, a matter of long-term prosperity for the entire country. the fed to raise interest rates into that, the market couldn't absorb it and stability in our capital markets, our equity markets, strength in our economy is the ultimate point of negotiating leverage with the chinese. we've slowed their economy dramatically by the pressure we put on them, allowing us to create better terms. the administration's goal is to remake manufacturing in this country, revitalize it, create a stronger foundation for our economy and so far it's worked. we've added half a million new manufacturing jobs in the first two years of the administration, and 430,000 manufacturing jobs that have gone unfilled, according to the national association of manufacturing. so we're changing things around, hopefully for the better. >> how long do you think we'll be patient to get the deal done. i know it's important, national security, got to go the distance but how long do you think the markets will hold out and give you permission to keep going. >> the way they're working on
things, in terms of framework, the march.net will take that. it will take a long time to enforce. china's a habitual line-stepper. for this to play out, it's a multiyear process, but as long as we can keep them at bay and things move in the right direction, i think markets will take that. >> in december the fed's summary of economic projections priced in two rate hikes for 2019. do you think that goes lower when we see the new dot plot on wednesday, does it matter? >> i think the assumption is that it will go lower. i think if it does go lower and we see potentially the chance for one rate hike, that's positive for equity markets. i think they're on hold for the 2018. the dot plot, it might as well take a bunch of dots and throw them up against the wall. dagen: mitch, i want to get to this, because i think first quarter -- correct me if i'm wrong because i can barely speak
english this time of day, i think we're on track for the best first quarter since '98, right, for the overall market. i can't figure out why investors have not been more unnerved by what the federal reserve's been telling us the last few months. the wall street journal, nick tararas, go of the go-to reporter, said this week they'll signal little if any appetite to raise rates this year. you're talking about basically rate hikes seem to be off the table and also announce the conclusion they will stop shrinking the $4 trillion balance sheet, the portfolio, and that could come by september. that seems to say, hey, the world is slowing, we're worried, we're concerned about the united states economy and investors have seen optimism in this fed decision rather than anything negative so far. >> which is what mike and i were talking about. that's right, people, we do need, makeup. when you get up at 3:00 in the
morning. you were talking about the fact that risk is back on and last year risk is back off. so i'm curious if you could share with the audience if that risk on continues or is it all hinging on what the fed has to say? >> i think -- so, the threats to risk trades, trade and the fed, those are the major ones and economic slowdown. we're not having a massive economic he slowdown. maybe this year will be slightly slower than last year. china looks to be moving in the right direction and then the fed, i just think the fed's on hold. i think if we get some language on the balance sheet this week, i mean, i just don't think it matters. i mean, the fed is not data dependent. the fed has -- >> they said they're data dependent. dagen: is the 10 year freshly going to go below -- treasury going to go below where it is. is it going to go lower?
you don't want to own treasuries if interest rates are going to go higher. >> if you look at the taylor rule, a data dependent way of looking at where short-term interest rates should be, based on inflation, productivity growth, output. it puts us somewhere between 4 and a quarter and 4 and three quarters. the fed's at 2 and a quarter or 2 and-a-half right now. we're not data dependent now. i think the fed is on hold for the reasons stimulating the economy, to go to kind of the next level, again, the goal of the administration is to remake the foundation to more of a manufacturer economy. much of that has to do with china and when the fed rase looking to just kind of go on auto pilot and raise going into the end of last year, the equity markets didn't like it and we're not going to -- i just don't see it happening this year. dagen: michael lee, thank you. good to see you as always. deadly flooding, a bomb cyclone
brings rain and snow to the midwest causing thousands to flee their homes. and 2020 former vice president joe biden kind of accidentally let it slip about his intentions. was anybody surprised. while senator kisser extend kird makes it official in an already crowded democratic field. a that's next. stay with us. ♪ we're going to rock this thing. ♪ me and my gang. ♪ me and my gang. ♪
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dagen: welcome back. i'm dagen mcdowell in for maria bartiromo. your top stories at 6:30 a.m. eastern. futures looking for direction this morning, we have an 83 point loss on the dow futures after a winning week for the markets last week. little green on friday, some of the gains for the week, take a look. three, almost 4% gain on the nasdaq, tech stocks driving the market high earn, microsoft hitting an all-time high. european markets we have gains in england and france, a little bit of a loss in germany, asian markets finishing higher overnight, the biggest dwayneer the shank -- gainer, the shanghai, up 2.5%. merger monday, we have detailed on the deal between global payments giant fidelity national information services and world pay. and extreme weather, thousands are forced to evacuate the midwest as a bomb cyclone tears through the area.
privacy versus safety, nevada considering controversial technology to let the police scan your phone after a crash to see if you were texting. all he does is win, win, win, highlights from kyle busch's 200th nascar victory. you love to hate him, you know it. our top story this half hour, 2020 vision, former vice president joe biden hinting at his possible presidential plans. >> i get criticized, told i get criticized by the new left. i have the most progressive record for anybody running -- anybody who would run. [ cheering and applause ] >> anybody who would run. [ cheering and applause ] dagen: this coming as the democratic field grows larger with new york senator kirsten gillibrand officially announcing
her candidacy yesterday. joining me now washington examiner commentary writer, tiana lowe. with joe biden and that slip, nobody is surprised the guy's going to run. >> joe biden gaffing his way into 2020 is peak joe biden, is it not? dagen: i think we've got peak joe biden sometime in the months ahead. what do you make of the increasingly crowded field? >> so, right now democrats are going to have to choose their leans. i think the problem with someone like senator kirsten gillibrand who i don't think anybody realized wasn't already officially running, what is her lean, her angle is i'm a woman? that didn't really work for hillary clinton. then you have senator elizabeth warren who would have had a lot of gus to gusto, she has been bw
she's lost a bit of the momentum and she's had to deal with the whole one, one thousand 24th native american scandal. >> it's interesting to say they have to pick their lanes. i'm trying to understand who is resonating, who is not. so many are running on the same thing, medicare for all. there's a couple pulling out and having different strategies. there's a lot of crowding and a few that are standing out, bernie one that stands out, joe biden stands out, beto stands out. who do you see as coming across as something different? there will be a bunch of people fighting for the same votes. >> not that the candidacies are vital. amy klobuchar has been wise to not back medicare for all. she's not the most sparkly candidate but she could have a blue wall appeal. even someone like andrea yang who is coming from the outside, he has the most wonky list of
issues of any candidate as opposed to beto who did a vanity fair cover fluff piece and they asked him about medicare for all and his answer was maybe i support a buy-in, the green new deal, i support it in spirit. what does that mean? dagen: he's smart to not get in the weeds with the actual details until you have some of these individuals falling by the wayside because the fact that -- i've repeated it over and over again. bernie sanders bill on medicare for all which was co-sponsored and supported by cory booker, kamala harris, elizabeth warren and kirsten gillibrand, it outlaws private insurance in this country. it's better for a beto o'rourke to come out and say i support something that is a single payer option, something like that, but i'm not getting into the details with this because it's a loser. >> certainly. i mean, the democrats in the senate right now are being
dragged so far to the left. the fact that every single democrat running in 2020 who is in the senate backed the green new deal which is valued at $93 trillion in the first decade, a nonbinding resolution that no one knows how to pay for, this is something that will come back to haunt them. imagine any of them on a debate stage against president trump talking about killing all the cows and creating a federal jobs guarantee. dagen: my opinion, senator kirsten gillibrand was trying to be the me too candidate, throwing bill clinton under the bus, saying he should have resigned over the lewinsky scandal, despite being close with the clintons for years and throwing her squash partner, senator al franken under the bus as well. she looks like she's disloyal, rather than somebody whose standing up for all women. >> especially when you see the staffer she kept on after he was reportedly sexually harassing his subordinates. dagen: another 2020 candidate who had a busy week end,
elizabeth warren, kicking off a rally in tennessee. she spoke about her new plans for affordable housing and universal child care. she's called for increasing taxes on the ultra rich. she wants a wealth tax to fund her campaign promises of. what do you make of this? >> this wealth tax wouldn't come close to funding any of these progressive projects. it would make $2 trillion in the first decade. the language that warren has been using exemplifies what she's done her entire career, being punitive when it comes to the wealthy. i don't think that anger and hostility towards business, especially when the economy is booming, will resonate in the same way it would have in 2016. dagen: homeland security secretary kirstjen nielsen will give her state of the homeland security this morning, talking about the border battle,
expecting to push for more border security as tensions at the border are hitting an all time high. maria spoke to senator ron johnson about the emergency at the southern border. maria: characterize the emergency as you see it today. >> what we saw in 2014 is president obama declared that a humanitarian crisis when 120,000 children and people coming in as families across the border illegally and were apprehended. last year that number was 145,000 in the first five months of this year, 175,000 unaccompanied children, mainly people coming in as family units across the border illegally or presenting themselves at ports of entry claiming asylum. we can apprehend, process and then we disburse and by and large people stay in the country long-term. dagen: 12 republicans voted sense slsense supply against th- essentially against the president's declaration for more
border funding. >> that vote wasn't about whether or not there is a crisis at the southern border which obviously there's an imminent threat if you look at the apprehensions and the overflow of drugs. the issue was the constitutional precedent. any reasonable person could see, two years from now could a democratic president use that for construction of solar panels or green new deal. it's interesting to see the effects of voters along the southern border, there was a right wing shift in 2018 in the midterms dis goo. dagen: good to see you. thank you so much. a major merge her -- merger annd in the payments industry. cheryl: fidelity national information services agreed to buy payment processor world pay for about $35 billion. fis shareholders will own about 53% of the newly created company
and world pay shareholders will get 47%. there is the stock in the premarket on your screen. the acquisition would be by far fis' biggest bet since they bought sun guard for $5 billion back in 2015. again, definitely stocks to watch this morning in the premarket and when the market opens. hundreds have been forced from their homes as fierce flooding is pounding the midwest. crews had to rescue nearly 300 people from washed out neighborhoods in nebraska. record flooding already reported in 17 different areas and it's expected to, get this, get worse with the missouri river set to crest at nearly 48 feet tomorrow. floodwaters have overcome one-third of a may r juror air force base near omaha that damaged 60 buildings and it's not over, folks. dagen, you're going to love this. i've got a few things for you, actually. first, this. a frightened mother had to rescue her young daughter after a moose crashed through the bedroom window. at first she thought it was a burglar. this happened when the family
was sleeping in a colorado home. police, wild diss liflife office able to safely remove the moose. dagen: just hanging, nothing to see here. cheryl: i'm go itch i've gott sat in the middle of the road and blocked traffic. traffic remained stopped as they crossed the road. and april the giraffe has given birth once again in front of a captivated youtube audience. 300,000 people watched this life as she gave birth at the animal adventure park in new york. it's her fifth calf. that's all the animal news i've got for you. dagen: that's why i don't eat animals. cheryl: because they're so cute. dagen: they're so cute. thank you, cheryl. the privacy debate, nevada considering using controversial technology to let the police scan your phone after a crash.
and a big win, kyle busch didn't let a penalty stop him from reaching a career milestone. more in sports straight ahead. ♪ i'm going to take away. ♪ the music, let it play. ♪ i just can't refuse it. she can stay with you to finish her senior year. things will be tight but, we can make this work. ♪ now... grandpa, what about your dream car? this is my dream now. principal we can help you plan for that .
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police say virtual kidnapping is when parents are told their kids have been taken and are ordered to pay a ransom. the scam is based on speed and fear where the caller tries to keep the person on the line and get the money before they can independently confirm that their child is okay. the sentinel is writing about a university of tennessee promise, what students need to know to get free college. a new program for in-state students could give them a full ride through school. they must have a household income of less than $50,000 and have already qualified for a state lottery scholarship. students also need to graduate from a tennessee promise eligible high school. and the las vegas sun says nevada is considering technology to scan cell phones after crashes. the proposal will let police use a device known as a textalyzer that connects to a cell phone
and looks for activity. the company that makes the device says it doesn't access or store personal content. it seems like an issue for the judge. he's coming up at the top of the hour. but what do you think of that? >> it's interesting. i have an app that lets me track my kids when they're driving and whether or not they use their cell phone. it's called life 360. the problem is, you get false positives because it will show if they're changing music and they're changing it not on the phone itself but on the display, it shows as cell phone usage. you can get false positives. dagen: seems like something that will get fought in the court system. judge andrew napolitano is coming up at the top of the hour. before that, kyle busch marks a personal milestone, more in sports, next. ♪
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dagen: march madness has arrived. jared max joins us on the ncaa bracket. jared. jared: good morning, dagen. the big ten conference ruling the roost when it comes to number of schools in the brackets. michigan state beat michigan sunday to win the tournament, among eight teams in fro from tg ten in the big dance. the acc, duke is the overal over one, joined by north carolina and virginia, gonzaga also a number one. the tournament begins tomorrow. usually freebies in the bracket, belmont against temple, and nc central against north dakota state and arizona state versus
the saint johns. the brooklyn nets were down 10 points with a minute and two seconds left and they came back to tie the clippers with 5 seconds to go. l.a. laughed last. >> five seconds to go, tie game, lou williams for the win. there he goes! >> oh, my goodness. jared: the clippers beat the nets, 119-116. before sunday, only one man recorded 200 career wins against nascar racing series, talking about richard petty. by day's end would not be the only member of the 200 club. kyle busch running down a dream at the auto club 400, 200 nascar win, the 53rd in the cup. he got by a pit lane speeding penalty yesterday, dagen. dagen: thank you so much, jared. we have breaking news right now. there are reports of multiple people injured in a shooting in
the netherlands. authorities are saying it happened in a tram in a residential neighborhood, again, a shooting in the netherlands, multiple injuries reported. we'll bring you more information as it becomes available. stay with us. (bird chirping) lots to do, hope you fuelled up. sure did. that storm sure ripped through. yep, we gotta fix that fence and herd the cattle back in. let's get at it. (whistle) (dog barking) (♪)
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- what i pray is that you won't turn your eyes but you will look at their suffering and your heart will be changed. - we pray that god will move upon your heart to act right now and send an emergency gift of just $25 so that we can help more frail and lonely elderly holocaust survivors in the former soviet union before it's too late. dagen: good morning. i'm dagen mcdowell, in for maria bartiromo. your top stories at 7:00 a.m. eastern. boeing in crisis mode, the development in the faa approval
of the 737 max aircraft under investigation. we have the latest. futures are looking for direction this morning. we're on track to have our best first quarter since 1998. dow futures are down, however, this morning, 68 point loss there. this after green on cemented those gains for last week, almost 4% gain on the nasdaq last week. in europe we have gains in england and france, a little bit of a loss in germany and the asian markets finishing higher overnight across the board. preventing heart disease, doctors are now saying to stay away from aspirin. then get ready to play, snapchat reportedly looking to launch a gaming platform next month. details coming up. and drinks in the city, sarah jessica parker giving up cosmos for her own line of wine. trying to stay that fast. and here with me to break it all down this morning, pollster, lee
carter, pwc president, mitch rochell and third seven ad advi, michael block. welcome one and all. coming up this morning, current board member of acreage holdings, john boehner, the ceo of acreage holdings, kevin murphy as well. you don't want to miss that interview. our top story this hour, boeing in crisis, the justice and transportation departments now probing the boeing 737 max jets. this is according to reports in the wall street journal. a grand jury reportedly issuing a subpoena to at least one person involved in the 737 max's development. the fatal ethiopian airlines crash comes less than six months after the same type of aircraft from boeing crashed in indonesia and the similarities between the two incidents keep growing. boeing could get hit with even greater legal trouble this time around after failing to resolve defects following the first
crash in october. joining us now, fox senior -- fox news senior judicial analyst, we said senior twice, andrew napolitano. [ laughter ] > dagen: senior squared this morning. >> good morning. dagen: it was an incredible story in the wall street journal about this grand jury in washington issuing a broad p subpoena dated march 11th, that is one day after the ethiopian airlines crash and looking into this incident with the prosecutor on-board from the fraud section of the justice department. >> well, remember, the justice department can't just investigate something because a tragedy has happened. there has to be a threshold met and that thrush hold i.prosecuto articulate a theory of some potential criminal event.
they may not know exactly what it is. in order to invoke the authority of the grand jury, which i'll tell you now a second, they have to be able to articulate that. it can't be literally a witch hunt, although there was a crash. there has to be something there. i suggest it might be what you mentioned in your intro which was proceeding in the face of a known danger without correcting something that caused a crash the last time. is that -- i hate to use this phrase with respect to boeing -- is that criminally negligent homicide, refusing to do your duty on such a scale that innocent -- hundreds of innocent people died? now, grand juries are necessary in order to issue subpoenas. we're not talking about search warrants. not talking about breaking down doors and grabbing evidence before it disappears like the fbi did in new york city to michael cohen. we're talking about a subpoena from a grand jury which would go to boeing's general counsel, saying basically you have 30 days to get this information to us. we're not going to tell you what
we're looking for but these are the documents that we want. dagen: correspondence, e-mails and other messages. we should point out, it's highly unusual and the journal pinpoints this, for federal of prosprosprosecutors to investign airplanes in a criminal sense. >> i could not agree with that more. the fact they're using a criminal probe must mean they have -- they're able to articulate something that boeing was supposed to do that it didn't do, or something that boeing hid from the regulators at the time this particular aircraft was approved. now, hiding from regulators is a crime. we all conside criticize jim co. one of the correct things he said, we don't do events, we do criminal investigations. that's what the fbi does.
>> my question is, from a messaging perspective, how do they get ahead of this? now the word -- you have a grand jury so the word criminal is out there in the mix. >> as far as i'm concerned, they're way behind the eight ball. it seems like all the time companies in crisis say nothing or they don't say enough because they're more concerned about the legal risk than they are about the risk of what it means to say something. everything they say, they know they're going to be -- could be held against them later. meanwhile, we're left to think they're doing nothing. anything ambiguous is interpreted negatively. >> don't they have a sophisticated p.r. department like most major corporations do? >> they should. in these moments of crisis, there's like a war room where everybody huddles and says what can we say. the p.r. team might draft something and the lawyers say you can't say that, because if you say that that could be saying you're admitting guilt, this could be interpreted this way that way.
by the time you get something out, it's watered down so much it's meaningless. >> that's an interesting observation. it's almost unheard of to commence a criminal investigation of an airline within 24 hours of a crash. dagen: additionally, there is scrutiny of the f.a.a. by the department of transportation's inspector general to ensure that the relevant documents are maintained and retained in terms of any investigation going on at the faa. go a ahead. >> are the burden of proofs different? would that be in play at all? >> criminal case you have to prove guilt beyond a reasonable doubt and to a moral certainty. in a personal injury case you just have to show preponderance of the evidence, 51%, that it's more likely than not that boeing's negligence caused the crash. i don't think boeing --
dagen: we need to be careful not to get out over our skis here. >> that's true. i don't think boeing is concerned about civil liability for the deaths of the people, as horrific as it is, that's capped, limited and regulated by the war saw convention. -- warsaw convention. they're worried about market share. they're worried about the value of their equity and they're worried about whether somebody might go to jail. again, i can't use that phrase if i get over our skis, i know what you mean, i can't say it as effectively as you did, dagen. this is the beginning, the earliest stages of an investigation and it may go nowhere. you know, lots of times evidence is presented to grand juries, there is no indictment what whatsoever. guess what becomes of the evidence? it is locked up and never revealed. that's one of the things prosecutors cannot reveal, evidence that is presented to a grand jury that chooses not to indict. dagen: i want to get to the
college admissions outrage. people who work in coffee shops, everybody i talked to, they are furious about this and one angry mother is reportedly suing actresses lori loughlin and felicity huffman for a $500 billion, half a trillion dollars, claiming their alleged cheating scam prevented her son from being accepted into some of the same elite universities. >> one of those lawsuits, the kid is in stanford and the allegation is he would have had a better life if he went to yale. i'm sure the friends in yale are happy about that. stanford to yale, this is so speculative. first of all, i'm not surprised there is litigation. allegations and indictments like this always produce litigation but this is so wildly speculative. whose life is worth half a trillion when they're 21 years old? what lawyer could -- when you file a document with the court, you're representing to the court that you can prove the allegations in there. >> i think it's fair to say, we're going to see class action suits.
we're going to see all sorts of these schools, of the perpetrators, of everyone. >> these purport to be class actions. it's a while before the court can decide whether or not there is a class and whether or not this plaintiff can represent the class. of course, class actions are a gravy train for the lawyers. >> what's interesting to me is how are the universities going to and-a-hal navigate from a communications perspective. usc is in a bad position, they're one of the standout bad actors right now. this will get lumped together. i was shocked to see some of the university students that were interviewed and they're like eh, am i surprised. that's almost the worst thing that can happen. >> let me tell you what i think it's going to happen. one of the people i talk to about these things told me singer, the hub of the wheel, the conspiracy -- dagen: rick singer. >> right, told the feds said that he and his colleagues
helped 750 students get into college. there's only 32 in this. that's number one. number two, who would parents do if they were indicted, they thought they would never get caught and didn't see the criminality in it. they will tell the fed about others who have done it. >> rick singer is not the only guy. >> there's a lot of rick singers. dagen: the diploma i got from wake forest, yours is just as worthless. >> wake forest is a great school. dagen: it wasn't when i -- well, i got a job as as a gardr with that wake forest diploma, i didn't get a job in journalism because of it. i got zero help. should be the job of the school to help get you employment. >> you know, mcd, i was just there, i spoke to a couple hundred students. i was knocked over with the beauty of the campus and the intelligence of the questions that came from the students. dagen: i tried to say it on friday. i had to wear duck boots to take a shower because the drain in my shower that i shared with seven
other women and slept in a bunk bed when i was 20 was constantly clogged. i'm lucky i don't have a lasting fungus from that. [ laughter ] dagen: there, i said it. judge napolitano -- i got what i paid for. $7,000 a year. >> i still love you. dagen: coming up, preventing heart disease, new guidelines for aspirin use, next. plus, sarah jessica parker's new drink, the sex in the city star gives up her cosmos for her own line of wine, the full story ahead. ♪ almost feels like nothing's changchanged at all. *6 it's screening technology that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market.
possible terror attack. happened at a tram station in a residential neighborhood. people are being told to stay away from the area. trauma helicopters are flown into the scene. as we get more details we'll bring it to you. also we have this story this morning for you. just months after president trump announced he wanted a full withdrawal from syria, the wall street journal is reporting the u.s. is readying plans to keep 1,000 american forces there. the paper says the trump administration's talks with turkey, e.u. allies and u.s. dark backed kurdish fighter haven't resulted in an agreement to create a safe zone in the northeast where the kurds are fighting islamic state terrorists. if you thought an aspirin a day could keep a hai heart attack a, think again. heart association is no longer recommending daily aspirins to prevent heart attacks and strokes. they say the health benefits
aren't worth the risk of internal bleeding. the pain reliever can be a life saver for those with past heart issues. dig into that one. okay. this is interesting. the snooze button on your ion iphone may be a thing of the past if one group gets their way. a sleep wellness company says having a nine minute alarm undermines the benefit of a good night's sleep. it's urging apple to remove the feature. some say lengthy use of alarms and snooze buttons causes illnesses. not everybody agrees it's a major risk. back to you on the panel. all of us know the alarm is important. if it guy goes off for nine min, so what, at least i'm awake. dagen: b beware the snooze ifu work on a morning show because if you accidentally hit the alarm off button -- >> that has happened. dagen: i have alarms across my bedroom. i have one in the other room so i have to get my keister out of
bed. >> how many do you have? dagen: three. >> and dogs that don't get up when the alarm goes off -- >> dagen: exactly. >> they're useless. >> my dog keeps snoozing. snoozing. dagen: coming up, crude in focus, the worsening crisis in venezuela threatening global oil markets. the impact next. and snapchat set town veil a new -- set to unveil a new gaming platform. we have the details ahead. ♪ this is your invitation to exhilaration.
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this as the crisis in venezuela is threatening to disrupt the global oil market. according to a new report from the international energy agency, opec has a stronger base of spare capacity that is offering a supply cushion. joining us right now, is the shork report publisher, steve shork. what say you about the direction of crude? >> right now, we've been saying for the past few months, we're at the dy, over dx moment, looking ahead to the demand season which is going to be supportive of price, crude oil prices, that is. the strength in the oil price that's we've seen recently is more of a gasoline situation. if we look at the spread markets, there clearly is a shortage of on-spec gasoline if the market and that is lending support. what we look forward to now is the point of turnaround season. we're in the maintenance season. refineries are buying fewer barrels. they're shutting down to perform
maintenance. when you put fewer crude oil barrels into the refinery, you manufacture fewer gasoline barrels coming out of the market. that is the story now. as far as venezuela goes, looking forward, what we're seeing now is a differential between the type of oil venezuela manufacturers and other types of oil and that is squeezing margins. so when we come out of turnaround season in april and may and we begin to manufacture more gasoline, we have to keep an eye on those margins. if those margins remain tight, supply will remain tight and that will certainly be further supportive of price. dagen: the wall street journal writes today that he opec and a group of ten oil producing nations led by russia they're deepening their crude production cuts but are split where the curb should stay in place beyond june or the end of the year. what does that do to the cost of crude? >> it's something that will be supportive of price. potentially looking at similar prices to what we saw last
summer, that would be 70, $75 crude oil which would of course be supportive of price. but i must add that just like last summer, we saw that the market can easily absorb gasoline at those prices. if we recall, last summer we kept on wringing our hands that gasoline prices were at four-year highs. oh, my goodness. do we want to go back to where we were four years ago, dow below 17,000, broad metrics of the unemployment rate closer to 13%, that's the u-6 rate. no, i don't want to go back to four-year highs. certainly any sort of cutback in opec, russia, would be supportive of price. let's keep in mind, u.s. crude oil production is the leading producer now in the world and that production here in the u.s. is only going to grow stronger, given where the hedges are set throughout the year. so to a great extent, u.s. production will offset the loss of these opec/russian barrels. >> steven, good morning, mitch rochell. real quickly. >> hi, mitch.
>> the crude oil's gone up but overall the basket of commodities year-to-date have gone up, they're about 15% which is opposed to last year whenever commodity including burlap was down. how much of the updraft is a function of commodities in general seeing buyers inside of them? >> yeah, i think it's a direct correlation, just to your point, at the end of the fourth quarter every industrial commodity out there collapsed. so we're seeing a rebalancing in the march.net and i -- in the market and i'm encouraged by that because of course commodity prices are a leading indicator. you don't get strong commodity prices in weak economies. the fact we're seeing a bid, a return of buyers to the market, i think bodes well for the economy. it's a good sign. dagen: thank you so much. steven shork, a pleasure as always. coming up, the big business of cannabis, former house speaker john boehner talks with our own maria bartiromo about his new venture and the power of the
apple iphone, the device taking on gaming consoles, playstation an and x-box, more n that story ahead. ♪ treasure, that is what you are. ♪ you're my golden star. ♪ you're looking to make my wish come true. (bird chirping) lots to do, hope you fuelled up. sure did. that storm sure ripped through. yep, we gotta fix that fence and herd the cattle back in. let's get at it. (whistle) (dog barking) (♪)
my dream car. it turns out, they want me to start next month. she can stay with you to finish her senior year. things will be tight but, we can make this work. ♪ now... grandpa, what about your dream car? this is my dream now. principal we can help you plan for that . dagen: welcome back. i'm dagen mcdowell in for maria bartiromo. futures are searching for direction this morning as news of a possible federal
investigation into boeing is bringing that stock down. we have a 35 point loss on the dow futures, but the broad market, s&p 500 on track for its best first quarter since 1998. a little bit of green on friday cemented gains for all three major market gauges last week. the nasdaq the best performer, gaining nearly 4%. in europe, we have gains in england and france, a little bit of a loss on the dax in germany and it was green across the board for your asian markets overnight. to our top story this morning. the big business of cannabis, acreage holdings is the largest multistate owner of cannabis licenses and assets in the united states. maria bartiromo sat down with former speaker of the house and acreage holdings board member, john boehner, along with kevin murphy, the ceo of acreage holdings, the t to discuss their growing business. maria: this business has taken
off. i cannot believe how many cannabis companies there are going public, wanting to go public. let me kick it off with you, kevin. what's behind this sudden surge in interest of cannabis companies? >> well, i think when i -- going back to when i had gotten involved in 2011, very few people in the united states believed that cannabis had a place. now, 2019, with all of the new states coming online, 33 states with a medical program, of which 10 of those states are adult use, now we have more data, more education, and that is why today 95% of all people in the u.s. believe that cannabis should be available for medical use and 66% of the country believes it should be available for adult use. maria: the push to legalize marijuana is moving, 33 states
as you say, plus washington, d.c. have legalized it medically. 10 states plus d.c. legalized its use for recreational use. john boehner, you went on the board of this country back in april of 2018. what did you see about this that was so interesting to you to step on the board? >> well, as someone who is in the political arena for nearly 35 years, when i look up and see 33 states approving the use of cannabis in some form, you begin to realize that there's something going on out there. and the american people are clearly moving on the subject. i feel like i was one of them. i opposed cannabis my entire career but over the last five years or so i felt myself moving and then as i heard more and more anecdotal stories about people who were using cannabis for medicinal purposes began to convince me that i want todd be part of this discussion. over the last year, i couldn't
be happier about the discussions i've had what i've learned and frankly the success of acreage holdings. maria: we've had jack brewer on this program a number of times, former nfl player, and he has opined about the fact that doctors give the football players opioids. they should be giving them marijuana because it's not addictive the way opioids are. treasury secretary steven mnuchin fielded questions earlier this week in a senate finance committee hearing on the conflicting federal and state marijuana laws, lawmakers are arguing that it creates confusion for the cannabis businesses. so you think a lot has to change, kevin. i want to ask you about that. john, i want to get your take on this too. the regulatory environment has not caught up with all this euphoria around cannabis, has it? >> definitely has not. i think we are in the united stateunitedstates woefully behit
of the world. i've seen that firsthand in davos, switzerland. the canadians are leading the capital markets, israelis are leading on research and the u.s., again, with 33 states having a medical program but yet it's still federally illegal because it's still a schedule one drug, defined by the fact that as a schedule one drug it's believed that the plant has no medicinal value. from our vantage point, we believe over the last eight or nine years we have proven the fact that it can help a veteran, it can help an epileptic child. maria: let's talk safety for a moment. we noto bay co- we know tobacco causes cancer. can you tell us that marijuanas not cause cancer. what do we know about the safety of using cannabis. >> what we know about the safety of using cannabis is
straightforward. and smoking is just a component of cannabis utilization. today, in 2019, there are very sophisticated forms of delivery, whether it's through tinctures or edibles and even vaporizers. when we think about clean, predictable medicine, those are really the medicines that we're looking to highlight. so we're advocating for more research and the reason why we don't know if it cures -- rather, if it causes cancer or not is there has not been enough research. this is research that we're currently now doing ourselves to bridge the anecdotal stories to clinical stories. i can tell you this. if you think all of it is anecdotal and if you think that it doesn't have a place, 130 people die every day from open yet overdose. 50% of those deaths are people with a doctor's prescription in
their pocket. and never has cannabis clinically killed anyone. maria: somebody must no something because the industry is getting ahead of regulations and taking off. john, you know washington. you spent a career there. do you think this is going to be -- that this is going to be legalized? >> i do. the only question is when. listen, when the american people are for something, their members of congress listen and they come along. and clearly the federal laws are way out of step with what 33 states have now done. and so the states act, which would say if it's legal in that state the federal government recognizes that it's legal in thathat state, i think has a vey good chance of passing sometime this year or early next year. maria: so you at acreage, kevin, are growing the company. you entered into an agreement to acquire the california based
cona. they've got a license to operate a cannabis dispensary in california. where does the growth come from at acreage in the next five years? >> the growth will really come nationwide, but i believe over the next couple years you're going to see exp exponential grh in the northeast. just this past week, new jersey has come to terms where they are moving very quickly to adult use in that state. we believe as new jersey goes, new york will follow, connecticut shortly behind, rhode island and so it's that northeast cluster that we have the most impactful and largest footprint and we believe with the 43 million people in that corridor is going to have frankly exponential growth for us. we are now positioned in new jersey with the largest grow, 120,000 square feet and we basically at this point can supply the entire state with
medical cannabis. maria: does the industry have the banking access that it needs? you know, at a subcommittee hearing, john just last week, they called it a double standard, representative mark amoti from the-a republican, called it a double standard where the private sector cannabis businesses are put through the hoops to secure bank accounts while government entities are able to deposit tax revenue from cannabis sales into federally regulated institutions. is there no scrutiny in terms of who gets banking business? >> no, it's because it's a schedule one drug, you know, banks don't want to deal with something that federally is illegal. they don't want to give their regulators another reason to come in and pounce on them. this is where the states act will solve that problem. maria: do you feel that there's an appetite to go make this legal within the congress, john? >> i do think there's a movement
to get the federal government out of the way and allow those 33 states and others who i think will soon be coming along to lee l galize these businesses -- legalize these businesses in their states. maria: you think this will be state by state and you think the number of states will increase in terms of legalization, whether it's medicinal or recreational? >> i do. at some point down the road, i don't know where that is, but federal government will probably try to big foot the states. the states have done this on their own. the federal government is going to have a hard time coming in later and telling them how to run their business. maria: yeah. >> but that's down the road quite a ways. dagen: stay with us. we have more of maria's interview with john boehner next, including his thoughts on the 2020 presidential race. and no more cosmos, sarah jessica parker releasing her own line of wine. details ahead.
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john boehner, along with acreage ceo kevin murphy. maria: let me switch gears a little about what's going on in congress right now. this is one issue. you know they have been divided for some time now. you see these new policies coming from the democrats, the investigations, investigating the president. what's your take on the vitriol happening in washington. >> it was crazy enough when i was there. it's gotten more crazy since i left. the american people are divided. members of congress reflect the views of their constituents. so members of congress are divided. it's to the point now where both parties are being held hostage by the extreme wings in their party and any idea that there should be -- there will be any cooperation is -- it's just not going to happen. it's messy. but listen, it's democracy. it's a tough business but we'll figure it out. maria: you make a good point,
because democracy is messy, right? it's not -- >> it is. maria: it can be messy. but now we're not just talking about a democracy, we're talking about capitalism versus socialism, john. it's pretty extraordinary that we are actually debating what's better for an economy. >> i know, that's really -- i would have never guessed in my lifetime we would have this debate going on. listen, if the far left of the democrat party is going to continue to grow and insist on socialism, that's not where the american people are. and they keep going down this path, they're going to reelect donald trump if he decides to run. maria: i mean, kevin mccarthy as the minority leader and the other republicans have been trying to be heard but they no longer have subpoena power, they no longer are in the majority in the house. what's your take on the makeup of congress today with the democrats in charge? >> well, it's never fun to be in the minority. i've been there as the leader of
the minority party. you don't really count. so the democrats, they have their opportunity to lead and if they want to squander their power with investigations after investigations, they're going to reap what they sow. we'll get through all of this. the members of congress and the president need to think about what's good for america, what can we do to help america move forward, even given we've got the divided politics we have. we have to work together and get things accomplished that will help the american people and help our economy. maria: i don't see anything getting accomplish this year because they're fighting all the time. >> i wouldn't be holding my breath. maria: exactly. now you've got things like the green new deal, they're talk about that cost at 90 plus trillion dollars, medicare for all, $30 trillion, and then you've got a $22 trillion debt that we talk about every day.
will any of these policies do you think see the light of day, john? >> no, i don't think so at all. but the deficit is approaching a trillion dollars on an annual basis. listen, you can't -- we've got $20 trillion worth of debt. you can't operate your family budget on that, can't run your business with that type of debt and your federal government can't do it either. i think the budget deficit is going to become a major issue here over the next year, that is going to force washington hopefully force washington to begin to deal with it. maria: it's extraordinary as we watch this. who do you think is best positioned to take on donald trump in when 2010, john -- in 2020, john? >> they're going to have 20, 25 candidates run, one of them is going to win, probably one from the far left. they're going to have to sell their policies which i don't think the american people are
going to buy. maria: i agree that people don't want to see socialist policies. kevin, i'll end where we started on your business. right now given the fact that all of the states are not -- have not legalized marijuana, what's the business model? what's the business plan? relying on medicinal? >> we do rely heavily on m medicinal until it transitions to adult use and we adjust awed cordingly. we -- accordingly. we have brands that bridge the gap between medicinal and adult use, the brand is the botanist, the go-between between the two. the plan is straightforward, be in as many states that we're welcome from a legal standpoint, grow those states individually, aggregate all of the earnings into the holdco structure of which we currently have public on the canadian stock exchange. i will say that there will be no
greater privilege than to be listed on the new york stock exchange or the nasdaq and really that's the next opportunity we believe for people to make significant upside in this business. our valuations in the u.s. are a fraction of the valuations of the businesses in canada. that will reach parody soon when the u.s. government passes the states act and even the banking act. maria: in the meantime, john, you're back in business, very different life than when you were in the halls of congress, sir. >> yes, it is. you know, at acreage we're in 19 states. we're the largest operator in the country and our goal is to continue to grow the number of states that we operate in and frankly it's an exciting business and we're in the very, very early stages of what is going to become a very large
industry over the next 10 or 20 years. maria: i think you're right. it's good to have you both oven the program many thank. we'll be watching, john boehner and kevin murphy. dagen: bringing you a president trump tweet. here's what the president has to say this morning. general motors and the uaw are going to start talks in september, october. why wait? start them now. i want jobs to stay the usa and want lordstown, ohio in one of our best economies in our history opened or sold to a company that will open it up fast. car companies, he continued, are all coming back to the u.s., so is everyone else. we now have the best economy they the world and the envy of all. get that big, beautiful plant in ohio open now. close a plant in china or mexico where you invested so heavily pre-trump but not in the usa. bring jobs home. coming up, the power of apple,
dagen: snapchat ready to launch a gaming platform. cheryl casone has the details. cheryl: senate chat could un-- snapchat could unveil the gaming platform as early as next month. they're going to code name it project cognac. games would live inside the snapchat app. planning to showcase more original show as well.
let's move to apple. the iphone taking the title of the most popular gaming device. you heard that right. analysts say more than a billion iphones were sold over the past decade but there are only about 300 million consoles like the sony playstation or microsoft's x-box out there. apple continues to improve the iphone with better chips and graphics performance, more gamers are turning it into their primary mobile gaming device. there's apple in the premarket. and there is this, sarah jessica parker is swapping out her cosmos for a glass of wine. the sex in the city star is launching a wine line this summer with a new zealand weinery. sjp is going to be involved in all aspects of it, including the wine making itself. she's even going to have a hand in naming some of the wines, so i'm thinking, dagen, maybe a jimmjimchoo -- jimmy choo chard.
dagen: did you do that yourself? cheryl: i go back and forth. dagen: it's still airing, a stella artoir commercial, with jeff bridges, the dude, stella ar toast. it's time for some wine. it's almost 8:00 in the morning, time for a little drink. still ahead, everybody, lyft going public, the ride sharing app reportedly seeking a valuation of up to $23 billion. details next hour, "mornings with maria." ♪ i need your love. ♪ i need your time. ♪ when everything's wrong. ♪ you make it right. ♪ i feel so high, that you're
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beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations. comcast business. beyond fast. maria bartiromo top stories 8:00 a.m. eastern, jobs in america. president trump calling on general electric to reopen ohio assembly plant boeing in crisis mode development and faa approval of the 737
maximum aircraft under investigation we have the latest there o going public lyft looking for a valuation up to 23 billion dollars in ipo road show. and big news out of marriott details on the hotel chain's plan to open more than 1700 hotels. major market gauges mixed to look at futures owe dow futures down 31 points gains on s&p 500 and nasdaq, this after green on friday, kree mentdz gains, microsoft new all-time high the biggest gainer of the week up almost 4% in europe gains in england and france, a little bit of a loss about one-fifth of 1% on the dax in germany, asia markets higher across the board overnight, here to break it down with me pollster and maslansky partners president lee carter pwc partner mitch
roschelle, market strategist michael block we are talking about all things presidential election but 6.1 million dollars beto o'rourke raised. >> pretty big kathere is something about him a lot of people say no substance not sure what it is there is something about him people are really resonating with the only candidate that i tested so far outside of joe biden has any appeal with independents everybody else completely you know polarizing, i think going to about important to watch him see what he comes -- >> those who talk to him prooivent say he has you a then is the pe ability to connect with people individually fascinated by it. >> that is what people say something about him feel they know him. >> who we know very well president trump he continues to tweet this morning. of them 93 -- >> we know him via twitter and
the national world stage, 93% approval rating in the republican party, thank you. explanation disappoint tweeting all weekend about general motors to reopen ohio assembly plant in lordstown, edward live at the white house. reporter: the president not shy about showing frustration or displeasure, he took to twitter over weekend calling out gm for closing auto blants, did it again this morning minutes ago tweeted saying gen he motorist talking september, october start them now i want jobs in the u.s. said in another tweet that closing plant in china or mexico you invested heavily pre-trump not in u.s. bring jobs home president had a call with gm ceo trying to get her to reopen that plant, in ohio
upset 1500 jobs shed last you march 6 ceo of gm says nobody wants cars demand is down globally they are looking at that for the rest of the year the president pointing out basically toyota reinvested in the u.s. expanding operations gm should do the same under union contract most of the workers have to stay with the plant itself, gm still saying they are trying to work with workers to see if they can go within the company but, again, most of the he workers bulk have to stay with the plant will lose jobs the president threatened to cut government subsidies to gm if they won't reopen or sell the plant to someone else who wants to use it dagen. >> thank you so much for that reporting edward in washington white house, investors keep an eye on this week from u.s. china trade to federal reserve joining us stephanie pomboy good morning.
>> good morning. how are you. >> great what is the most important thing for markets do you think. >> i think the fed. >> tell me what you think we are going to hear if market reaction is positive we have discussed on this program. >> i think you know, there are obviously not expected to raise rates i don't think they will the question is do they lay out some time frame on what their plan is for balance sheet, because while having this whole discussion about what they are going to do in terms of pausing rates they are tightening, because 50 billion a month is coming off their balance sheet. so there is a silent tightening going on in background, that will continue, until they say otherwise so we're looking for a little -- color on where they are headed with that. but i think that is really the key, to the markets, because the markets like the economy are dependent on continued access to cheap credit, and you saw very clearly in fourth
quarter what happens when that credit starts to recede until they pause actually pause not just talk about pausing and maybe reup balance sheet expansion or cuting rates, hard to see where that credit dynamic is going to shift. >> stephanie if fe rants maximum to promote growth, what can they do is there anything they can really do to have a real effect here? >> i mean, it is -- it is frustrating i think for the fed, because they have they are kind of battling their own legacy. they've encouraged so much borrowing so much leveraging up over the last 30 years, basically, since 1987 when alan greenspan came in and greenspan established -- now, they have got this diminishing marginal return problem every time they cut rates get less
and less for the buck more of every single dollar goes to debt service you've got to expand credit by ever increasing amount to get same gdp oomph that you were getting 30 years ago so it is -- it is really a predict tamen one thing clear shrinking balance sheet raising rates absolutely not what they should have been doing to support growth. >> what do you think the market is pricing in in terms of fed action, we know that they are going to say something about the shrinking balance sheet but i am looking at 10 year -- >> below 260, ji i saw that below 2.6 on friday i think i didn't mean to interrupt "the wall street journal" saying conclusion of meeting the fed is going to say, when are they going to stop reducing balance
sheet their leaning toward halting a decline in treasury holding by september. no final decision made continued your question. >> just trying to see how the credit market shake out because you said, cheap money is the thing that is driving these markets, and movement on the balance sheet whether or not shrink balance sheet has the effect of driving up treasury yields to about counter to what we are hoping for. >> so far every one was worried, you know when the largest single buyer treasurys backed away from market obvious yields head higher obviously, that didn't happen another dynamic going on is there, and i think in part, there is -- a flight to safety bid to treasurys that is ongoing, so that has been very supportive but, you know, i guess my feeling is that the fed will probably pause
balance sheet in september markets pricing in a modest very modest dut by middle of the year fed funds futures market the markets are looking for rooeforcement of that not clear to me that will be enough to support the market. and we've got the profit picture on the other side has been really deteriorating you don't have fundamentals you don't have liquidity. >> next reading on gdp, will include what the profits look like. right? >> you get the profits, what to watch in there is it going to be a shock for the markets. >> analysts have already significantly slashing estimates for the first quarter, in fact, i think they said in the first two months of this year, the downwards revision was 6.5 percentage
points triple i think the average of the last 10 they've aggressive, but i think that they still are going to find they haven't lowered estimates enough, because the -- the government numbers that you are talking about, dagen, were reporting on a before tax basis which is a window into what we're going to see this year now that tax cut effects disappeared negative earnings last year. so they were picking up a much weaker profit picture than s&p number. >> beginning of profit recession. >> what is important about government data no one looks at -- except nerds like us. >> pointed to mike bloc when you said that -- >> it is more gap, you know,ed a here's closely to gaap accounting more importantly it is not affected by buybacks not reported on per share basis it is total dollar number so the fact that that
picture was weaker than s&p earnings numbers, really is an harbinger what have we are going to see this year. >> i think that is marts of the quarantinedry lower profitability companies may be not as confident about borrowing type of market they don't have places to go with borrowing there isn't a demand for these loans what happened easy money leads to what? ill advised merges stock buybacks in retrospect turn out highs what is the way out here what is the way up? what is going to work here. >> prices, you have to clear the market with lower prices i think that is the way out,. but, you know, i am a ghoul what can i say. >> i don't have the answer to this but to bring lee in here as well i can't help but wonder and worry what impact on economy will be from bass account full of democratic
candidates painting a picture to american people of an economy that is just horrific beta o'rourke capitalist economy is in fair and unjust racist also they have got to sell whatever fiscal policy they are talking about it will it will get the americans to change their optimism about what we have right now which is the lowest unemployment rate we've had in 50 years. >> -- >> cynicism out there right now others inflaitsdz aren't necessarily true people expecting recession later this year a lot of folks think they the economy is rigged against them all of this socialist policies, free everything, i am concerned with a that means
fors consumer sentiment confidence we can dismiss it say all we want isn't necessarily true you talk to voters american people that is how they feel especially, especially on people. >> i think lee's point is so important, because it dovetails to ted discussion a lot more people including aoc discussing this mmt, mod earn monetary theory the fed will print money to fund various principals to me at first dismissing this completely insane. but it is going to again a lot of traction, because there is this real anger and resentment about how the fed's qe went to the benefit top 1% of the population. >>. >> not just quantitative easing, it is the bond and securities, also bank bailout we should remind people, about
the bank bailout by the federal government federal reserve gave birthing to the tea party that feeling now on the left, it is coming from a very similar place. >> scariest thing to me isn't even having the discussion it is that we're having it will while in the midst of this longest bull run in the markets, and history, i mean if economy and markets are not doing great now imagine what happens if downturn comes. >> wages going up fastest pace since stwi2009 you have agita. >> good to see you terrific conversation as wells coming up boeing in crisis justice and transportation departments reportedly launching probes into the 737 max jet, eyeing ipos ride hailing service lyft
seeking valuation up to 23 billion dollars in ipo. and could come as early as next week. we have the very latest, next. ♪ ♪ (bird chirping) lots to do, hope you fuelled up. sure did. that storm sure ripped through. yep, we gotta fix that fence and herd the cattle back in. let's get at it. (whistle) (dog barking) (♪)
the big drug companies don't see they see us as profits. we're paying the highest prescription drug prices in the world so they can make billions? americans shouldn't have to choose between buying medication and buying food for our families. it's time for someone to look out for us. congress, stop the greed. cut drug prices now.
motors, from online retailer overstock.com taking a hit, gerri willis on the floor with more. reporter: a disappointment on both top and bottom line for overstock eps loss of 1.39 a share versus expectations loss of 91 cents a share revenue 4 -- 452.million, this stock has been struggling, the discount retailer lost 75% of market share, committed to blockchain platform helped the stock we will see what it does meanwhile, in the statement today they are committing to
profitability for the retail portion lyft i mentioned the ride-sharing app, busy ipo schedule going to be coming soon may be march 28 some conversation might be earlier than that valuations expected to be between 1 billion and 23 billion. -- 2 plan and 23 billion reactoring to investors to coming in 6 to 68 a share, and raise two billion dollars, remember a lot of companies coming this year, uber among them logan green remain in control of the company the way they've got this laid out nearly 50% voting control with their shares, by the way, company still losing money, it i will be one of the biggest ipos since alibaba 2014 if they come as in expected. back to you. >> thank you so much gerri gerri willis new york stock exchange, for us coming up jobs in america marriott
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terrorism to highest level as they search at a traffic intersection residential neighborhood o'neill tweeted hr nypd monitoring reports of shooting on a tram in utrecht netherlands, does not appear -- a manhunt is ongoing, and the motive so far unknown we asked every one remain alert. >> headlined this morning for you federal prosecutors are reportedly scrutinizing development of boeing 737 max planes the development "the wall street journal" says grand jury in washington, d.c., issued a subpoena to at least one person, involved in the development of the 737 max, seeking related documents to it sent a day after the detailedly ethiopian crash jurnl reports transportation
department looking into faa approval of boeing 737 max planes should, shares of boeing as you know lower in the premarket down more than 2 1/2%, dow component, marriott expanding hotel chain planning to open more than 700 hotels next three years, by 202 marriott expects to add as many as 295,000 rooms bringing an additional revenue 40 million dollars also could have up to nine billion in stock buybacks, taking a look at marriott down 13%, for the year but they are expanding nonetheless, dagen jay thank you, cheryl what do you make of this. >> the economy healthy? >> interesting if you look at the hospitality business partial partially business a hedge opening new hotels many won't be hotels with a building -- probebly
reflagging brands out there marriott brand starwood brands they have 30 plus different brands, but to your question, as background i think a good sign for the economy, they are bullish trying to blab as much share as they can, now is the right time to do it so makes a lot of sense. dagen: how do they train individuals working there to maker the experience is the same across the board? >> that is not a problem unique to lodging industry. dagen: i know. >> you have unemployment as low as it is dealing with consumer you are going to have challenges the quality of service not good but if you can differentiator by having good quality you will see a lot of companies that make a difference. >> airbnb turned this on its head i see a sign you are seeing a consolidation in the industry taking over reflagging, marriott.
>> here is my news flash over weekend the worst customer service last two days would be seamless grubhub, the consumer service is really, really horrific. doordash taking a lot of share there. >> there you go. >> uber as well. >> that doesn't work so hot. >> in michigan it does mu son to be doing. >> it doordash, doubling right now. >> how they react to bernie sanders on campaign trail next week spotlight on sports betting in-depth look at legalization of sports gambling ahead of march madness. ♪ ♪
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cod dagen mcdowell for maria bartiromo good morning, everybody. , to for us a searching for direction this morning, as news of a possible federal investigation into boeing is bringing that stock down can we take a quick look at boeing stock 51-point loss on dow futures a little bit of green s&p, nasdaq do we have boeing stock we will get you that -- down almost 2 1/2% again this
morning a long slide for boeing. since news of this crash. surfaced, in europe we have gains in england, france, quarter of a percentage-point loss in germany on dax there. the green across the board, for the asian markets japan shanghai hong kong south korea to the plus side. >> a new survey he detailing the most important thing couples are not doing, before they get have it of themmed, burger king rolling out a coffee subscription service details on that coming up gets in on action, 47 million people, that is one in five american adults are expected to bet up to 8 1/2 billion dollars on march madness according to the american gaming association, and in-depth look at sports betting. chl ahead, 20-20 vision, former texas congressman beto o'rourke breaking campaigning
raised 6.1 million dollars first 24 hours of campaign. that topped bernie sanders 5.9 million 24-hour haul, you have for showing how voters react to beto o'rourke here last week in iowa where he compared to compared the climate change fight to d-day watch this. >> those beaches those who face an exponential threat to western democracy our way of life showed us we can all come together unite, resources, we can convene countries of the world around other unsolvable problems that moment is now for us on this issue if a time to reassert global leadership friends instead of enemies is the at a challenging are too great. >> so interesting a controversial topic people
think out the rageous likening climate change to d-day you saw dial democrats loved it gave him an a, republicans innocents weren't that bad towards it he was saying he wants to rely radio assert american dominance people are buying it something about him i've got to say, he is one of them to watch, beto catching heart people feel like they know him trust him something there. >> wasn't in talking about climate change ditchday reaction of-- d-day fighting climate change nothing like d-day american sacrificing lives not really what he was getting at. >> no it wasn't what he was getting at he was saying time to get in middle of things reassert american dominance like they helped solve challenges of those days. >> make america great again? >> that is interesting because
looking, kamala harris, a lot of similarities striking similarities between what p democrats are saying what donald trump said before that resonates. >> i started to laugh playing that he was talking with hands. coming to mind? >> -- being someone who cannot talk without using hands a little bit over -- >> a con duck tore. >> really. >> conductor. >> we are going to bernie sanders among top con tenders in the democratic field here is speaking last week in. >> calling president trump most dangerous in our lifetime. >> this campaign is not only going to de'donald trump the most dangerous president in our lifetime this campaign is the government we are going to
create is going to transform our country create an economy and a government that works for all of us not just the one percent. >> -- look at that democrats off charts gave him a+, independents republicans totally turned off gave him an f, the job primary to get elected as democrat obvious winning there thing talking about policies that democrats are supporting medicare for all living wage talking about things that whether or not we like them, a lot of people do. and, he is the force to about reckoned with for sure. >> senator kamala harris talking taxes 500 dollar monthly tax cut to families making less than 100,000 a year they are is how voters reacted. >> i'm proposing what has been described, as one of the most significant one of the greatest, tax cuts for middle class families in generations
if you are a family making less than 100,000 as there are a year you receive a tax credit that you can receive up to 500 dollars a month let me tell you this you we are going to pay for it we are going to repeal corporate tax cut you can see what happens everybody kind of onboard with biggest middle class tax tax cut ever, 3500 dolla 500 a minirepealing tax cut you saw a nose-dive independents republicans understand corporate tax cuts is vital to economy everybody else likes districts for middle class a departure from other accounts talking about tax cuts a lot talking about health care for all. >> universal income, because if you make less than 500,000 dollars a year, you are going to get a tax degreed thcredit. >> welfare through tax code if you are and, by the way, we already have nearly half
christian pays no net federal income tax how many are you asking to shoulder burden of increased government spending a government already running up the debt the debts at 22 trillion close to one trillion dollars a year, in -- in annual budget deficits. >> we have to take very close apaengs to what is resonateing here this is messaging that is snaith resonateding with american people anticomplist antibig business giving more money medicare for all those are the messengers that people are responding to, right now, we've got to -- we've got to pay attention got to see how do we counteract those. >> have to the earlier point those are resonating with democrats this is for primary the issues -- other issues in general election. >> you can see kamala harris talking tiers part of the message independents republicans weren't that tubed out weren't saying this is terrible what you are doing
they weren't saying hay rebranded of welfare right. >> i want to get to elizabeth warren though because her the people's reaction to her is well -- this is her -- commenting on socialist lable bernie has to speak to what democratic socialism is. >> you are not one. >> i am not i can tell you what i believe that is there is enormous formality to about gained from markets markets create opportunity. >> there you go, markets create opportunity a little dip in dial the problem with senator warren, people listen to her snort, no reaction saying, if you are looking to a free market message that is the reason --. >> no, no she doesn't doesn't have a free market message because her proposals are more socialist than bernie sanders.
>> people know what her message is go you are a big phony baloney that is why they react you want to confiscate wealth saying you are not a socialist hogwash huey take it home put it in your suitcase. >> not much of a force what i was looking through responses we have we ask people what they think she is pretty much tuned out among everything else people don't pay much attention to her part because they are saying who warsh part saying i don't think she stands a chance i wouldn't spend time and energy focusing on her i think it is bernie, beto, kamala harris. >> people watch her and go -- >> you know what? you have been lying about family background since 80s. that is what people think they say they look at her and think, that you called yourself american indian native american tried to sell us, some -- bill of goods about you didn't tell these
didn't get ahead on it i think that hurt her more than anything ultimate identity politics "the wall street journal" called it faux pas. >> the universities, scandal he everybody like really you didn't know -- come on. >> -- coming up getting in on the action, millions of people expected to bet billions on march madness in-depth look at sports betting burger keeping, rolling out unlimited coffee for 5 dollars a men and women details behind that next. ♪ ♪ t. rowe price experts go beyond the numbers to examine investment opportunities firsthand, like biotech.
dagen: apple with a announcement cheryl casone has more. cheryl: dagen, apple do you agree a ten 1/2 ipad air-7.9 ipad miniapple said would hold event march 25 expected to launch next generation airpods, and airpower wireless charging, also a knew likely portable i felt padded down since yesterday from speculation of some kind of
watch the stock in premarket. >> burger king new subscription service for coffee just five bucks a month the subscribers can get one small cup of java every day participating restaurants, specialty coffee drinks not included you have to download and sign up might be a way to get more in for breakfast at burger king. >> couples to about married don't want to talk money turns out according to new study 88% believe discussion of finances is key to future, only half actually raise the issue. this is suntrust bank survey, financial advisers say couples should figure out financial situations so they are not surprised by future spouse's views or possibly credit problems, like hey honey i've got 18,000 in debt after we got married true story. >> southwest air also flying to hawaii service say
yesterday flight 6808 from aocland landed in honolulu safe and sound passengers on inaugural flight treated to in-flight hulu dancing first to sample the snack packs coconut spiced plumb plum. >> tickled from last setting a beto and hand movement, now i am mocking hulo dancers thinking beto hula dancer, there was a woman working the -- southwest counter, she has literally the expression on face like like whatever. [laughter]. >> yeah. >> guess where i am not going to have a w-- hawaii, my
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the sports betting world, sports gambling joining us now professional sports handicapper, kelly stuart featured in that documentary you saw in a little bit of a clip -- thanks for having me. >> it is -- paralyperfectly acc. >> in sports industry a gray year nevada only state has it legal, now we are starting to see legislation, being passed in states exciting. >> so just not the office pool anymore, this is everybody, ubiquitous airfare can bet on sports. >> i want a shout-out for the companies that had fantasy sports they proved to the state of nevada we are gambling when doing daley fantasy, this isn't gambling it is kind of the same thing. >> have you seeing more sophistication in temperature of how handicapping happens
anythi surprising? >> i have been this industry quite a while able to see it grow and progress. but really i think it is all the same thing still the same analytics same metrics maybe information to you faster twitter things of that nature but the core of handcapping is the same. >> i brought this up in commercial break someone said this to me not long ago a few weeks ago that there will be hedge funds set up quantitative hedge funds will gamble for a living place sport bets for a living sports beg will be treated like any other market i found that fascinating you how sooning do you think that could happen in terms of the gambling laws. >> hoping by now would happen legislation passed in state of nevada few years ago famous guy bill yi walters kind of involved in other stuff really pushed for legislation to happen, we are the we are act in nevada they want to know
where funds coming in and out it is illegal to place a sports wager for someone else from out of state until that is passed we are kind of in transitional period i would like to sight happen next couple years i don't see why headaches -- >> more states legalize it we should get there soon. >> game wageer, draftkings all that stuff has that changed the game changed handcapping because individual players statistics become more important than the outcome of the game does that change your world in terms of a handicapper. >> absolutely there are so many things in game changed i think we are seeing with millennials especially that younger demographic wants action all the time, so where can you get if it in game not waiting for quarters you go you can log in computer wait for it to say available bet games live. >> one thing i kept bringing
up with every participant in nascar racing do you have a sport in decline trying to basically stop free-fall, you got to start doing gambling doing gambling you littered would bet on number of betts unimaginable given number of laps in the race i want to turn to nascar, to the ncaa tournament according to report 47 million people expected to bet combined 8 1/2 billion dollars, march madness, a lot more than that. >> american gaming association assess 29% favored duke university -- to win -- >> never, never bet based on your heart, though. of the what can you tell us about as we fill out -- >> yesterday selections sunday there is a lot of different things that you can look into, so i've gotten really 10 hours worth of work done so far. >> god bless you -- >> one of those things fry there take a nap some point in
time you want to look at from it this perspective. two one feeds the most if final four we see a lot of people want to put duke, virginia, gonzaga i would not put more than two one feeds in final hour anything higher than double-digit feed kind of keep them limited, we know these teams do have opportunities to get there maybe lead, we see a couple every year seem may get there then beat, so a keep an eye on your bracket do give a favorite to win i don't think -- who you got michigan state. >> okay. >> you did it for us thank you. >> please come back kelly stewart -- guide dogs -- that is next.
okay. i'm plugged into equities - trade confirmed - and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. dagen: history in the making at the new york city half marathon yesterday. congratulations to thomas pannik, his three running guide dogs completed the race as did cheryl casone. >> we survived! dagen: you look adorable. >> oh, man, i was freezing in that picture. it was cold, right? dagen: you got this serious face going there. >> i'm supposed to meet her. >> the start was chaos. i had five of our friends, we were all trying to find each other. nothing. found nobody. but we did it.
>> you guys are here, you're not limping, you're like it was just another day. if i ran that i would be dying. you guys are amazing. dagen: thanks, everybody. "varney & company" with charles payne. take it away. charles: good morning, everyone. i'm charles payne. stuart will be back tomorrow. we have a ton of big stories for you this monday. president trump going after general motors. it's all over a plant that gm has closed in lordstown, ohio. the president challenging the company and union to open it or sell it to someone who will. and more headlines from boeing. the black boxes from the ethiopian air crash show similarities with the lion air crash in october. this as the feds now probe the approval process for the boeing max jet. boeing is down this morning, dragging the dow along with it. get this. beto o'rourke raising more than $6 million within 24 hours after